Goa Launches NPS for Driver Community, Ensuring Retirement Security for 5,000

In a landmark initiative aimed at strengthening social security for informal sector workers, the Pension Fund Regulatory and Development Authority (PFRDA), in collaboration with GoaMiles and HDFC Pension Fund (PoP), launched the National Pension System (NPS) for Goa’s Driver Community. The programme was inaugurated on 30th September 2025 in Panjim in the presence of Goa’s Transport Minister, Shri Mauvin Godinho.

This initiative is set to benefit nearly 5,000 drivers operating under the GoaMiles platform, offering them access to structured retirement planning and financial stability in later life.

PRAN Distribution Marks Formal Rollout

As a symbolic start to the programme, 50 Permanent Retirement Account Numbers (PRANs) were distributed to drivers during the launch event. These PRANs represent each participant’s unique NPS account, through which long-term contributions will be accumulated and invested.

Significantly, GoaMiles announced that it will contribute to each NPS account of its driver-partners, further strengthening the retirement corpus of its community of “Kaptaans”.

Goa’s Transport Minister: Drivers as Ambassadors of Goa

Addressing the gathering, Shri Mauvin Godinho, Transport Minister of Goa, hailed the initiative as an example of Goa’s progressive governance. He emphasised that Goa’s drivers represent far more than a service—they are ambassadors of the state’s culture, hospitality, and values, interacting daily with visitors from across the world.

“Goa, though India’s smallest state, has consistently led by example. This initiative is yet another testament to our commitment to inclusive growth. It aligns with the vision of Viksit Bharat 2047, and I am confident that Goa will continue to be at the forefront of people-centric reforms,” the Minister said.

PFRDA: Retirement Planning as a National Priority

Speaking at the event, Shri S Ramann, Chairman of PFRDA, highlighted the critical importance of retirement planning for workers in the informal sector. Stressing the benefits of early investment and compounding, he said:

“Let’s grow rich before we grow old. The power of compounding is real—and when tapped into early, even modest savings can grow into a substantial and dignified retirement corpus. NPS is built on this very principle: to provide every Indian with a structured, long-term, and inclusive savings solution.”

He reaffirmed PFRDA’s commitment to its mission of “Every Profession, One Pension”, underscoring the inclusivity of NPS.

HDFC Pension Fund and GoaMiles Commit to Drivers’ Welfare

Shri Ram Iyer, CEO of HDFC Pension Fund, underlined the importance of flexible, customer-friendly financial products that ensure old-age dignity for all. “Retirement planning is essential for every individual. By partnering with GoaMiles, we have the opportunity to give back to society by securing the financial future of thousands of drivers,” he noted.

Shri Utkarsh Dabhade, CEO of GoaMiles, reiterated his company’s dedication to empowering drivers with sustainable opportunities. “Our ‘Kaptaans’ have always been central to our growth. Extending NPS to them ensures long-term financial dignity, strengthening their role as custodians of Goa’s tourism and hospitality. GoaMiles will actively contribute to every driver’s NPS account,” he affirmed.

Building Social Security for the Informal Workforce

The launch event concluded with a Vote of Thanks by Shri Sumit Kumar, Chief General Manager, PFRDA, who acknowledged the Government of Goa, GoaMiles, HDFC Pension Fund, and the driver community for their support.

This initiative represents a major step in expanding social security to informal workers, a sector that forms the backbone of India’s workforce but often lacks structured retirement benefits.

By extending the NPS to Goa’s drivers, PFRDA reinforces its campaign “NPS Zaruri Hai”, promoting pension coverage across professions and ensuring that every worker has access to a dignified and financially secure retirement.

Looking Ahead

With Goa setting a precedent, similar collaborations between state governments, private platforms, and pension fund managers could be replicated across the country. Such models promise to mainstream pension inclusion for millions of gig workers, drivers, and other informal sector employees, making India’s workforce more financially resilient on the road to Viksit Bharat 2047.